VISIUM TECHNOLOGIES, INC. (VISM): debt financing — Visium Technologies issues $150k in 12% convertible notes and 66,668 common shares

VISIUM TECHNOLOGIES, INC.

Two 12% unsecured convertible promissory notes totaling $150,000 principal issued to individual investors.
66,668 common shares ($0.0001 par) issued as additional consideration.
Notes mature 12 months from February 28, 2023; proceeds for general working capital.
Company grants a 48-hour right of first refusal on future equity offerings under $150k for 9 months.
Event of default includes failure to accept buyer's legal opinion for share transfer legend removal.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

VISIUM TECHNOLOGIES, INC. incurred loan of $150,000 with two individual investors at 12% maturing 12 months after the date of issuance.

Instrument: loan
Principal: $150,000
Counterparty: two individual investors
Rate: 12%
Maturity: 12 months after the date of issuance
Event: incurrence

Exact text from the filing

On February 28, 2023, Visium Technologies, Inc. a Florida corporation (the “Company”) entered into a securities purchase agreement (the “SPA”) with two individual investors pursuant to which the Company agreed to issue to each Investor a 12% Unsecured Promissory Note, (the “Note”) in the total principal amount of $150,000 in exchange for a purchase price of $150,000 and an aggregate 66,668 Visium Technologies, Inc. par value $0.0001 common shares.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

VISIUM TECHNOLOGIES, INC. entered into securities purchase agreement with two individual investors valued at $150,000 (effective 2023-02-28).

Action: entry
Agreement: equity purchase
Counterparty: two individual investors
Value: $150,000
Effective: 2023-02-28

Exact text from the filing

On February 28, 2023, Visium Technologies, Inc. a Florida corporation (the “Company”) entered into a securities purchase agreement (the “SPA”) with two individual investors

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VISIUM TECHNOLOGIES, INC. filing history →

Source: SEC EDGAR

accession 0001654954-23-002741

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